NBB full year 2019 net profits increase by 6.0% to BHD 74.2 million

NBB full year 2019 net profits increase by 6.0% to BHD 74.2 million

National Bank of Bahrain B.S.C. (NBB) announced strong financial results for the fourth quarter ending 31 December 2019, marked by a 21.3% increase in its net profits to BHD 18.2 million (USD 48.4 million) compared to BHD 15.0 million (USD 39.9 million) in 2018.. The increase in net profit was attributed to a growth in operating income of 6.9% and a lower provision charge of BHD 0.1 million compared to BHD 3.1 million for the same period in 2018.. Total comprehensive income for the fourth quarter increased by 153.7% to BHD 27.4 million (USD 72.9 million) compared with BHD 10.8 million (USD 28.7 million) for the same period last year due to higher mark-to-market gains on investment securities classified as fair value through other comprehensive income.. Total loans and advances increased by 2.0% to BHD 1,213.7 million (USD 3,227.9 million) compared with BHD 1,190.1 million (USD 3,165.2 million) recorded as of 31 December 2018..